Economy 2024-06-15T05:26:39+03:00
Ukrainian news
Deficit Of Current Account Of Balance Of Payments Makes USD 693 Million In October

Deficit Of Current Account Of Balance Of Payments Makes USD 693 Million In October

balance of payments, current account of balance of payments

In October, the deficit of the current account of balance of payments made USD 693 billion (in October 2021 - UAH 70 million).

The National Bank of Ukraine has said this in a statement, Ukrainian News Agency reports.

The deficit was formed due to the expansion of the negative balance of trade in goods and services (including due to significant expenses of citizens of Ukraine who are abroad), which was only partially compensated by a reduction in payments on investment income.

For ten months of 2022, the current account surplus was USD 7.8 billion (in January-October 2021, the deficit was USD 1.6 billion).

Excluding reinvested income and grants from international partners, the deficit was USD 1.9 billion (a surplus of USD 3.9 billion was recorded in the ten months of 2021).

Exports of goods decreased by 38.7% (in September - by 34.8%), their imports decreased by 22.7% (in September - by 26.4%).

Compared to the previous month, exports of goods decreased by 7.8%, and their imports increased by 5.0%.

The volume of exports of goods in October amounted to USD 3.6 billion.

Most of all, exports of ferrous and non-ferrous metals decreased - by 77.2% (compared to September 2022 - by 15.8%).

Exports also declined across all other major commodity groups.

Import volumes of goods amounted to USD 5.0 billion.

Energy imports decreased by 37.1% (by September decreased by 10.3%).

Non-energy imports declined by 18.5% (up 9.3% by September).

The consolidated balance of payments surplus was USD 47 million (USD 1.1 billion in October 2021), which, together with net proceeds from the IMF (USD 1.2 billion), led to an increase in international reserves to USD 25.2 billion, which provides financing for imports of the future period for 3.2 months.

As Ukrainian News Agency earlier reported, in 2021, the deficit of the current account of balance of payments made USD 2.1 billion (1.1% of the GDP) over the surplus of USD 5.3 billion (3.4% of the GDP) in 2020.

The surplus of the current account of balance of payments in 2020 made USD 6.6 billion of the gross domestic product over the deficit of USD 4.1 billion year over year.

In 2019, the deficit of the current account of balance of payments decreased to USD 1.1 billion or 0.7% of the GDP.

DONATE

ok